Thursday
May 24
2018

Could this “UBI for social enterprise” help fund business for good?

By Eilee Anzilotti

In 2011, a group of five entrepreneurs and designers led by advertising veteran Alex Bogusky got together in Boulder, Colorado, to launch a startup accelerator called COMMON. The idea behind the accelerator was to build out an online community in which companies and individual entrepreneurs alike could share knowledge and tips for growing their ventures. Each member would pay $99 a month for access to the community, and the main requirement was that whatever company or initiative they were launching had to be geared toward social good. “We wanted to address a new kind of capitalism,” says COMMON cofounder Rob Schuham.

Oftentimes, social entrepreneurs have a difficult time accessing startup venture capital and brand support from more mainstream accelerator programs. But Bogusky and his colleagues wanted to create an accelerator that would accessible to social entrepreneurs worldwide via the internet, and with a low enough cost for entry that even small startups and nonprofit ventures could benefit.

Photo courtesy of Ron Kroetz.

Source: Fast Company (link opens in a new window)

Categories
Entrepreneurship
Tags
accelerators, social business, social enterprise, social entrepreneurship, social impact, startups